Bitcoin may be experiencing a potential bear trap for those who open up shorts this evening? Let's look at the charts and see what's really going on with the price of Bitcoin!
Given the larger picture of the market correction concerning Bitcoin and other Altcoins, experienced investors know that we are in a perfect purchasing position and have been for the last week. Good positions like these market-wide do not come around everyday.
We are back within the falling wedge formation! After a daily bearish move downwards, we have shot back up. Is this a reversal finally, back into a range of motion that would make me bullish, or is this another dead cat bounce?
The current price of Bitcoin is $6,532 on Coinbase. Today's high was $7097 with a low of $6483. Clearly the chartists were wrong with their target of $7500 as the bottom, as we saw the slight rebound after wicking down to the 200 Day SMA peter out.
Today we're going to be talking about NEO and GAS being added to Korean exchange Coinrail! We'll also be talking about the upcoming Ethereum Classic hardfork, SIX DAYS and Counting Down!